Australia overtakes El Salvador to become 4th largest crypto ATM hub

El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months.

El Salvador, the first country to legalize Bitcoin (BTC), has been pushed down yet another spot in total crypto ATM installations as Australia records 216 ATMs stepping into the year 2023.

As part of El Salvador’s drive to establish Bitcoin as a legal tender, President Nayib Bukele had decided to install over 200 crypto ATMs across the country. While this move made El Salvador the third largest crypto ATM hub at the time after the United States and Canada in September 2021, Spain and Australia overtook the Central American country’s ATM count in 2022.

On October 2022, Cointelegraph reported that Spain became the third-largest crypto ATM hub after installing 215 crypto ATMs. However, Spain continued its installation drive and is home to 226 crypto ATMs at the time of writing. El Salvador’s position as the fourth-largest crypto ATM hub was short-lived as Australia stepped up its game over the following months.

In the last three months of 2022, Australia deployed 99 crypto ATMs, confirms data from CoinATMRadar. As of Jan. 1, 2023, Australia recorded 219 active crypto ATMs, overshadowing El Salvador by 7 ATMs at the time of writing.

Australia represents 0.6% of global crypto ATM installations and, at this rate, is well-positioned to take over Asia’s crypto ATM numbers, which stand at 312 ATMs. The total number of crypto ATMs worldwide is 38,602, out of which 6,071 ATMs were installed in 2022 alone.

Related: Florida best-prepared US state for widespread crypto adoption: Research

Nigeria’s drive to impose the adoption of an in-house central bank digital currency (CBDC) — eNaira — forced the government to limit ATM cash withdrawals to $225 (100,000 nairas) a week.

“Customers should be encouraged to use alternative channels (Internet banking, mobile banking apps, USSD, cards/POS, eNaira, etc.) to conduct their banking transactions,” noted Haruna Mustafa, the director of banking supervision, while announcing the drive.

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Development bank of El Salvador refuses to disclose the country’s Bitcoin acquisition records

The Development Bank of El Salvador, BANDESAL, has refused to disclose the  government’s Bitcoin purchase and sale records for the second time, according to an October 31 tweet by the country’s Anti-Corruption Legal Advisory Center (ALAC).

The post Development bank of El Salvador refuses to disclose country’s Bitcoin acquisition records appeared first on CryptoSlate.

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atm

Spain overtakes El Salvador to become third largest crypto ATM hub

Spain currently hosts 215 crypto ATMs, pushing El Salvador — home to 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs.

The European country of Spain is officially home to the third-largest network of Bitcoin (BTC) and cryptocurrency ATMs after the United States and Canada. 

Spain currently hosts 215 crypto ATMs, pushing El Salvador — wi 212 crypto ATMs — down to the fourth position after surpassing the country by 3 crypto ATMs. Data from CoinATMRadar confirms that Spain represents 0.6% of the global crypto ATM installations.

Crypto ATM distribution by continents and countries. Source: CoinATMRadar

Moreover, the revelation places Spain as the highest contributor to crypto ATMs in Europe, which represents 14.65% of total installations in the continent, followed by Switzerland (144 ATMs), Poland (142 ATMs) and Romania (135 ATMs).

Crypto ATM installation growth in Spain. Source: CoinATMRadar

In 2022 alone, Spain installed 43 crypto ATMs and has previously shared its intent to install a total of over 100 ATMs by the end of the year — taking up the total to nearly 300 crypto ATMs once completed.

MediaMarkt, a German electronics retailer, and Confinity, among others, are leading the drive to install crypto ATMs across Austria, Germany, Spain and Greece.

On the contrary, global crypto ATM installations saw a negative growth since September 2022 and are on the path of slow recovery at the time of writing. Calculations based on data from the last 60 days show that around seven crypto ATMs are being installed daily worldwide.

Related: Crypto ATMs emerging as popular method for crypto scam payments — FBI

Greece takes the sixth spot in terms of cryptocurrency ATMs, and with the influx of tourists, Bitcoin ATM operator BCash shared insights on the usage statistics in the country.

Speaking to Cointelegraph, BCash managing director and co-founder, Dimitrios Tsangalidis, revealed that despite installing crypto ATMs in tourist hotspots, most usage comes from the main city area.

However, the island of Crete attracts a “very loyal cryptocurrency crowd,” as explained by Tsangalidis:

“There is a strong crypto community in Heraklion of Crete [which is] the location of one of our ATMs.”

According to Tsangalidis, a combination of crypto winter and tourist seasons has resulted in a slowdown in terms of regular traffic in crypto ATM usage.

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